Latest in Tag: oil prices Highlight
Latest in Tag: oil prices
Oil prices rise amid South Sudan violence
Brent North Sea crude for February gained 26 cents to $111.82 a barrel in London deals.
OPEC oil output hits 2-year low in October
OPEC’s supply averages 29.90 million barrels per day, down from a revised 30.01 million bpd in September
Oil prices rebound on weak dollar
A weak dollar makes oil priced in the unit cheaper for holders of other currencies, boosting demand.
Asian stocks mostly higher after Syria agreement
Trade remained cautious, however, before a two-day meeting at the US Federal Reserve at which policymakers are expected to begin winding down the bank’s stimulus programme.
Oil extends losses on profit-taking
WTI hit a 15-month high of $107.45 in New York on Thursday and Brent reached $108.93.
Oil down on China worries, US stockpiles buildup
President Xi Jinping on Friday said China, the world’s second largest economy and top energy consumer, would not sacrifice the environment for temporary economic growth.
Price of engine oil doubles
Calls for the Ministry of Petroleum to set price ceilings on oil companies
High oil prices to push MENA growth forecast up in 2013
The expected growth prospects of the MENA region strengthened, with predicted growth of 5.3 per cent in 2012 and 3.6 per cent in 2013, according to Qatar National Bank Group (QNB). QNB attributed the strong forecast to higher oil prices and increased government spending, according to the bank’s group review of the International Monetary Fund’s …
World oil prices rise
Oil rebound from 17-month lows, as financial crisis continues to bring the price down.
OPEC leaves 2012 oil demand steady, pumps more
By Alex Lawler/Reuters LONDON: OPEC left its forecast for world oil demand growth in 2012 unchanged for a second month, saying there were signs that a slowdown in global economic activity is easing. In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said world oil demand would rise by 860,000 barrels …
The energy deficit
By Michael Spence MILAN: I have been surprised by the recent coverage in the American press of gasoline prices and politics. Political pundits agree that presidential approval ratings are highly correlated with gas prices: when prices go up, a president’s poll ratings go down. But, in view of America’s long history of neglect of energy security …
Oil prices drift lower in muted trade
By AFP LONDON: World oil prices sank on Monday, continuing the previous week’s downtrend, as traders digested the latest batch of data on the Chinese economy. New York’s main contract, West Texas Intermediate crude for delivery in May, dropped 58 cents to $102.44 a barrel. Brent North Sea crude for May shed 95 cents at …
IEA sees no disruptions in oil markets
By Nidhi Verma / Reuters NEW DELHI: The International Energy Agency (IEA) said on Friday it did not believe there would be any disruptions to global oil supply as Saudi Arabia and other Gulf producers will bring more oil to the market. Brent crude prices have risen 15 percent since the beginning of the year to …
Oil shut-ins, slow supply growth support price: IEA
By Jessica Donati and Zaida Espana / Reuters LONDON: Incremental oil supply from non-OPEC countries that is running short of expectations and a high level of supply outages are supporting oil prices despite slack global fuel demand growth, the International Energy Agency (IEA) said on Wednesday. Oil supply from non-OPEC will rise only 300,000 barrels a …
Oil slips under $125 on growth concerns
By Christopher Johnson / Reuters LONDON: Oil prices fell on Monday, snapping four days of gains as worries over supplies from the Middle East eased and investors focused on the health of the global economy and fuel demand. Tension between Iran and the West over Tehran’s nuclear program has raised fears this year of a disruption …
OPEC pumps record volumes despite demand worry
By Zaida Espana and Dmitry Zhdannikov / Reuters LONDON: Europe’s debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production. The Organization of the Petroleum Exporting Countries (OPEC) retained its …
Oil falls to $123, supply fears easing
By Drazen Jorgic / Reuters LONDON: Oil eased towards $123 a barrel on Tuesday, as higher flows from Iraq and Saudi Arabia offset concern that sanctions on Iran would disrupt supply and push up oil prices. At the same time, question marks over demand for oil were raised after politicians in China and the euro zone …
Fall in oil, ECB cash hopes support euro, European shares
By Richard Hubbard / Reuters LONDON: A fall in oil prices and the European Central Bank’s looming cash boost for banks lifted the euro and shares on Wednesday, although some investors worried that the benefits of a second injection of cheap money may be short-lived. Brent crude oil futures slipped to around $123 a barrel from …
G20 alert to economic threat from rising oil prices
By Michael O’Boyle and Glenn Somerville / Reuters MEXICO CITY: The world’s leading economies said on Sunday they were “alert to the risks of higher oil prices” and discussed at length the impact that sanctions on Iran will have on crude supplies and global growth. Finance ministers and central bankers from the Group of 20 said in …
IMF sounds warning for global economy on rising oil
By Reuters MEXICO CITY: The International Monetary Fund flagged higher oil prices as a rising threat to the global economy on Friday, urging policymakers to keep a close eye on western tensions with Iran, which is facing punitive measures against its crude supplies. Looming US sanctions on Iran’s oil buyers, as well as an impending …
Oil up on weak dollar after Fed vow, data caps gains
LONDON: Oil prices rose on Thursday on the back of a weaker dollar after the US Federal Reserve said it would keep interest rates low for longer than planned, although an increase in US weekly jobless claims capped gains. Markets cheered the Fed’s rate outlook and European shares, base metals, gold and the euro all …
Oil up near $111 after EU Iran embargo
LONDON: Oil prices rose to near $111 on Monday after EU foreign ministers agreed to ban imports of Iranian oil from the start of July, eliciting further threats from Iran to close the key shipping channel the Strait of Hormuz. Brent crude oil futures were up $1.11 at $110.97 a barrel by 1248 GMT. US …
OPEC sees downside risk to oil demand from euro crisis
LONDON: A worsening of the euro zone debt crisis would further reduce the region’s oil demand and could impact consumption in emerging economies that are driving the increase in global fuel use, OPEC said on Monday. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) trimmed its forecasts for world oil demand …
Oil hovers below $103 as EU mulls Iran oil ban
Oil prices hovered below $103 a barrel Thursday as the European Union mulled a ban on oil purchases from Iran and a report showed mixed signs about US crude demand. By early afternoon in Europe, benchmark crude for February delivery was down 45 cents to $102.77 a barrel in electronic trading on the New York …
Oil falls below $107, US stocks and Iran in focus
LONDON: Oil dropped below $107 a barrel on Thursday as a stronger dollar and a rise in US jobless claims countered Iranian threats to shut a vital oil trade route. The euro fell to its lowest since September 2010 versus the dollar on Thursday as yields at an auction of Italian debt remained at levels …
Oil rallies, boosted by weaker dollar
LONDON: Brent crude oil futures rallied to over $109 on Friday, helped by a weaker U.S. dollar and after posting steep losses in the previous session, but analysts and traders said the risk remained to the downside given the economic weakness in Europe. Brent crude was up $1.52 at $109.74 a barrel by 1242 GMT …